OPEC oil price up
Baku, Azerbaijan, May 22
By Maksim Tsurkov – Trend:
The price of OPEC’s basket of 13 crudes stood at $50.87 per barrel on May 19, as compared to $49.87 a barrel on May 18, the cartel told Trend May 22.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
This is while the price for July futures of Brent crude oil has increased by 0.65 percent to $53.94 per barrel as of 11:00 (GMT +4 hours) May 22.
Meanwhile, the price for July futures of West Texas Intermediate (WTI) has grown by 0.73 percent and stood at $51.04 per barrel.